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e e (i) to maintain such records as will enable the City to fulfill its responsibilities under this section and section 148 of the Code and to retain such records for at least six years following the final payment of principal and interest on the Bonds. It is the understanding of the City that the covenants contained herein are intended to assure compliance with the Code and any regulations or rulings promulgated by the U.S. Department of the Treasury pursuant thereto. In the event that regulations or rulings are hereafter promulgated which modify, or expand provisions of the Code, as applicable to the Bonds, the City will not be required to comply with any covenant contained herein to the extent that such modification or expansion, in the opinion of nationally-recognized bond counsel, will not adversely affect the exemption from federal income taxation of interest on the Bonds under section 103 of the Code. In the event that regulations or rulings are hereafter promulgated which impose additional requirements which are applicable to the Bonds, the City agrees to comply with the additional requirements to the extent necessary, in the opinion of nationally-recognized bond counsel, to preserve the exemption from federal income taxation of interest on the Bonds under section 103 of the Code. Section 15. SALE OF BONDS. Public advertisement for the sale of the Bonds and bids to purchase the Bonds having been received pursuant thereto, it is hereby found and declared that the bid submitted by (the "Initial Purchaser") is the best bid received; and the sale of the Bonds to the named best bidder, at a price equal to the principal amount of the Bonds plus accrued interest thereon from the date thereof to the date of actual delivery, plus a cash premium of $ , subject to the unqualified approving opinion, as to the legality of the Bonds of the Attorney General of the State of Texas, and the market opinion of McCall, Parkhurst & Horton, bond attorneys, is hereby authorized, ratified, approved, and confirmed. When the Bonds have been approved by the said Attorney General and registered by the Comptroller of Public Accounts of the State of Texas, they shall be delivered to the purchasers upon receipt of the full purchase price. Section 16. PROCEEDS OF SALE. The proceeds of the Bonds, except the accrued interest thereon, shall be deposited into a Construction Account to be established by the City for the purposes for which the Bonds are issued, and the accrued interest shall be deposited io the Interest and Sinking Fund. It is further provided, however, that any interest earnings on bond proceeds which are required to be rebated to the United States of America pursuant to Section 14 hereof in ~rder to prevent the Bonds from being arbitrage bonds shall be so rebated and not considered as interest earnings for the purposes of this Ordinance. Section 17. [Insurance Language]. Section 18. [Insurance Language]. Section 19. APPROVAL AND REGISTRATION OF BONDS. The Mayor of the City is hereby authorized to have control of the Bonds and all necessary records and proceedings pertaining to the Bonds pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of the Bonds, said Comptroller of Public 18